News & Analysis as of

Property Tax

Property Taxes are taxes levied against the owner of property located within a particular jurisdiction. Property taxes are often used to refer to taxes on real property. Property taxation schemes vary depending... more +
Property Taxes are taxes levied against the owner of property located within a particular jurisdiction. Property taxes are often used to refer to taxes on real property. Property taxation schemes vary depending on the country or jurisdiction.  However, a popular system involves a government assessment of the value of a property and a rate based on a proportion of the assessed value. A property may be subject to taxation by multiple taxing entities.  less -

Real Market Values and "Compression" – Property Taxes Continue to Climb in Oregon

by Tonkon Torp LLP on

One of the most significant reasons taxes have increased so much this year is "Compression." Due to Measure 5, Oregon's constitution limits the amount of taxes that can be collected from each property for two categories...more

Reconciling the Differences, the Senate Tax Cuts and Jobs Act

On November 9, 2017, the Senate Finance Committee released a Description of the Chairman’s Mark of the “Tax Cuts and Jobs Act” and on November 14, 2017, the Senate Finance Committee released a Description of the Chairman’s...more

House Passes Tax Cuts and Jobs Act: How the Senate Proposal Compares

by Shearman & Sterling LLP on

On November 2, 2017, the House Ways and Means Committee (the “House Committee”) released its plan for comprehensive tax reform: the “Tax Cuts and Jobs Act of 2017” (H.R. 1) (the “House Bill”). Following a week of hearings,...more

Extension of Property Tax Discount in Miami-Dade and Potentially Other Counties

by Bilzin Sumberg on

On September 4, 2017, Governor Scott issued Executive Order 17-235 in response to anticipated severe damage across Florida due to Hurricane Irma. The Executive Order granted the Florida Department of Revenue authority to...more

Fall 2017 Property Tax and Valuation Topics

by Pullman & Comley, LLC on

Property Assessment Class Action Fails - On previous occasions, the editors of Property Tax and Valuations Topics have noted that Connecticut courts tend to be rather strict in requiring property owners to pursue statutory...more

OTA & Travel Distribution Update - Nov. 3rd, 2017

by Garvey Schubert Barer on

Our weekly OTA & Travel Distribution Update for the week ending, Friday, November 3, is below. The week’s update features a variety of stories, including a potentially landmark purchase by Airbnb....more

Why Did My Property Tax Bill Go Up?

by Tonkon Torp LLP on

Property taxes have skyrocketed for many Oregonians this year – with some taxpayers experiencing double digit percentage increases over the year before and average increases in the Metro area of 11 % (Multnomah), 6.5 %...more

One Reason Your Property Taxes Skyrocketed - New Bond Measures

by Tonkon Torp LLP on

Contrary to popular belief, Oregon law does not limit property tax increases to three percent per year. If you received a property tax statement this year, you may have learned this the hard way. Overall tax rates are now at...more

Residential Developments: Purchasers to pay GST to ATO after 1 July 2018

by K&L Gates LLP on

Treasury has released consultation draft legislation on GST for sales of "new residential premises" and "potential residential land" (subdivided residential lots). As explained in detail further below, if enacted, the...more

Current Issues for Higher Education Real Estate Lawyers

by Bowditch & Dewey on

Campus Real Estate, Property Management, Tax Credits The 15th Annual Higher Education Real Estate Lawyers conference was held in San Francisco, where attendees listened to and learned from both in-house and outside counsel at...more

What Is “Good Cause” for Granting an Abatement of Real Estate Taxes?

by PretiFlaherty on

NHRSA 76:16, I(a) provides that “Selectmen or assessors, for good cause shown, may abate any tax, including prior years’ taxes, assessed by them or by their predecessors, including any portion of interest accrued on such tax....more

Potential Traps for the Unwary in the California Office of Tax Appeals Draft Regulations

by Reed Smith on

The California Office of Tax Appeals (the “OTA”), the new tax tribunal that will be assuming some of the functions of the California State Board of Equalization (“BOE”), has issued its initial set of draft regulations. The...more

Potential New Tax Changes: The Tax Cuts And Jobs Act

by Roetzel & Andress on

The new tax bill, The Tax Cuts and Jobs Act (“Bill”), is estimated to add $1.5 trillion to the national debt over the next 10 years. The House Ways and Means Committee begins reviewing the Bill on Monday, November 6, 2017....more

The Tax Cuts and Jobs Act

by Proskauer - Tax Talks on

Today, the Republicans in the U.S. House of Representatives released their long-anticipated tax reform bill, entitled the “Tax Cuts and Jobs Act”. While there have been multiple statements from the Republican majority in the...more

House Tax Reform Bill Released

Today, House Ways and Means Committee Chairman Brady introduced the much anticipated House Tax Reform Bill – The Tax Cuts and Jobs Act. The bill is 429 pages, so it will take a little time to digest all the key provisions. ...more

The Proposed Tax Plan: What Public Agencies Should Know

by Best Best & Krieger LLP on

Earlier yesterday, we presented a webinar, “Tax Reform: What D.C.’s Actions Could Mean for Public Agencies,” that looked at how Congress’ actions in the next couple of months will impact such things as municipal bonds and...more

At The Well Weekly – Oil And Gas Update For Week Ending 10/27/2017 – Federal Court Says Ohio Supreme Court Would Adopt “At The...

by Cozen O'Connor on

Natural gas prices in Appalachia haven’t rebounded much since our last report, hovering around $1/MMBtu amidst a small decline in the rig count, but the good news is that the Brent Crude surpassed its $60/bbl benchmark...more

Pennsylvania Supreme Court Declares Dollar-Based NOL Cap Unconstitutional

by Ballard Spahr LLP on

In a unanimous decision in Nextel Communications of the Mid-Atlantic, Inc. v. Commonwealth, the Pennsylvania Supreme Court affirmed the Commonwealth Court's holding that Pennsylvania's dollar-based cap on corporate net income...more

Helping Handbook for Those Affected by Northern California Wildfires

by Morrison & Foerster LLP on

This handbook provides an overview of some of the issues that individuals, families, and small businesses may face as a result of the wildfires that swept Northern California in October 2017. Please note that this handbook...more

Hospital and Homeowner Property Tax Exemptions Examined by Illinois Courts

by Franczek Radelet P.C. on

Illinois Courts are currently examining several different aspects of property tax exemptions, all of which impact the revenues of school districts and other units of local government. Most notably, the Illinois Supreme Court...more

Boston Municipal Research Bureau 'Update' Has Me Thinking Thoughts of PILOTS

by PretiFlaherty on

I always thought that hospitals and universities owned most of the tax-exempt land in the City of Boston. Boy was I mistaken. The total area of Boston consists of 47.84 square miles. Of that total, 49 percent, or 23.44...more

Don't Get Overtaxed: Successful Tax Assessment Challenge Shows Benefits of Apartment Owner Due Diligence

by Faegre Baker Daniels on

By statute, a variety of property types are assessed based on specific approaches to value – in some cases, at the lowest value indicated by a number of valuation approaches. Apartments are one such property type and, as...more

Illinois Supreme Court Grants Petition to Appeal Ruling on Constitutionality of Illinois Hospitals’ Property Tax Exemption Law

by Hinshaw & Culbertson LLP on

Illinois hospitals continue to face uncertainty regarding the law under which they may seek exemption from property taxes. As reported in our March 30, 2017, Health Law Alert, the Illinois Supreme Court declined to rule on...more

Hurricane Maria's Aftermath, Part II: Puerto Rico Government Provides Various Exemptions and Extensions to Multiple Upcoming...

by Littler on

In the aftermath of Hurricane Maria's catastrophic impact on Puerto Rico, in order to assist in rebuilding and recovery, Puerto Rico’s governor and several agencies have issued multiple exemptions to previously established...more

Oregon Targets Renewable Heating Companies for Increased Assessments

by Tonkon Torp LLP on

Biomass heating companies, which use renewable energy sources like wood, crop waste, or garbage to generate heat, will now come under central assessment in Oregon. Under central assessment, all of a company's property,...more

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